Hit a low of $0.440 today, which is a support level. There is also a trend line support nearby. The stock has formed a lower high and a potential higher low. So it could be in the mid of forming a continuation triangle before breaking out. watch out for a break out above the pink down trend line shown on the chart.
All the best to all!
Reply to @Enviroprotector : Hi, please call me Bee Heng will do :)
Yes, it is a clear breakout on Friday. Citic Envirotech has broken out above the short term pink down trend line on high volume. The immediate resistance is the high of $0.515 - $0.520. A close above this resistance could see the share price heading toward the $0.570 - $0.580 region.
@ongbeeheng many thanks
Hit a low of $0.440 today, which is a support level. There is also a trend line support nearby. The stock has formed a lower high and a potential higher low. So it could be in the mid of forming a continuation triangle before breaking out. watch out for a break out above the pink down trend line shown on the chart.
All the best to all!
Reply to @Enviroprotector : Hi, please call me Bee Heng will do :)
Yes, it is a clear breakout on Friday. Citic Envirotech has broken out above the short term pink down trend line on high volume. The immediate resistance is the high of $0.515 - $0.520. A close above this resistance could see the share price heading toward the $0.570 - $0.580 region.
Failed to rebound today!
Reply to @alan999 : My views are from the fundamental viewpoint which might not be applicable to short term market moves